Investment Overview

Marcus & Millichap is pleased to exclusively present the sale of Custer Commons, a value add multifamily opportunity positioned on an oversized lot in one of Southwest Portland’s most desirable neighborhood settings. The property offers a compelling blend of in place income, operational upside, and potential long term redevelopment flexibility. Current rents remain below market, giving investors immediate upside as units naturally turn. Additionally, the landlord is currently paying all utilities—an uncommon structure in the submarket— creating an exceptional opportunity to restructure leases and implement a RUBS program to materially increase net operating income with minimal capital investment. Situated in an amenity-rich pocket of Southwest Portland, the property offers walkable access to neighborhood shops, services, parks, and transit, enhancing renter demand and supporting strong long-term occupancy. The location’s blend of convenience and residential charm makes it highly attractive to tenants seeking proximity to daily needs without sacrificing neighborhood feel. Adding to its value proposition, the property sits on an oversized lot that may support future redevelopment, offering patient investors optionality and long-term strategic potential as the surrounding area continues to appreciate and evolve. With under market rents, a straightforward operational value add path, and land bank upside, Custer Commons provides investors with a rare combination of stable income, near-term improvements, and long-term redevelopment potential in a supply constrained, high-demand submarket.